How much land?

Old Feb 9th 2014, 2:57 am
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Default How much land?

How much land can a foreigner legal own at the moment in Hungary, we have been looking at two properties in the Vas region, one has 4500 sqm, its on
the outskirts of a small village on its own, but has farm land which is currently being cropped by whoever. Apparently the owner has died.


Regards
Michael
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Old Feb 9th 2014, 8:34 pm
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Default Re: How much land?

I am userly wrong and be corrected by othere,s after a long time geting the wright answears by myself the Limit is up to 1 hector, not sure what price thay are whonting but for this land my be 1 mill max we have land in ower area for this amount but if you whont soome think read to move in and cheap look at my add digger
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Old Feb 9th 2014, 9:53 pm
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Default Re: How much land?

Not so much the amount of land Michael but the classification. Is it inner or outer area.
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Old Feb 10th 2014, 12:27 am
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Default Re: How much land?

Originally Posted by kohoutek
How much land can a foreigner legal own at the moment in Hungary, we have been looking at two properties in the Vas region, one has 4500 sqm, its on
the outskirts of a small village on its own, but has farm land which is currently being cropped by whoever. Apparently the owner has died.


Regards
Michael
At the moment - none, once the new law comes in then I agree with digger - 1ha. But the process of purchase will be different with land committees and all. (Assuming the land in question is 'external')
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Old Feb 10th 2014, 12:33 am
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Default Re: How much land?

Originally Posted by Peter_in_Hungary
At the moment - none, once the new law comes in then I agree with digger - 1ha. But the process of purchase will be different with land committees and all. (Assuming the land in question is 'external')
If the Law is implemented ok But the wife tells me the oposion party to present Goverment if elected in election this year will try to revoke the present Land Laws digger
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Old Feb 10th 2014, 12:42 am
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Default Re: How much land?

They can revoke it but it wont affect properties bought in the interim period, so best buy quickly
As the land the OP posted about is just over an acre, the size doesn't matter, it's the classification that matters and with it being on the outskirts of a village, it's likely to be exterior.
Peter, as far as I am aware, land committees won't be involved in properties under the hectare
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Old Feb 10th 2014, 2:49 am
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Default Re: How much land?

Originally Posted by Rural Hungary
They can revoke it but it wont affect properties bought in the interim period, so best buy quickly
As the land the OP posted about is just over an acre, the size doesn't matter, it's the classification that matters and with it being on the outskirts of a village, it's likely to be exterior.
Peter, as far as I am aware, land committees won't be involved in properties under the hectare
The OP posted "one has 4500 sqm" Surely 1ha is 10,000m2

Buy quickly - yes, but foreigners (inc. EU members) can't until the new law is in force..May??

Under the new law a 'foreigner' is a non EU member state citizen. EU citizens will be able to buy land under the same terms as Hungarians.
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Old Feb 10th 2014, 7:45 am
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Default Re: How much land?

Think you misread my post Peter with regards to size.

Contracts can be drawn up now as less than 6 months but the remark was actually tongue in cheek in regards to the constant non certainty of anything in Hungary and how the ability to buy might be reversed in the blink of an eye.
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Old Feb 14th 2014, 9:22 am
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Default Re: How much land?

I asked the estate agent the classification on the 4500mtr property and got this reply via email?

Thank you for your interest in the property you are interested in residential yard, but is located in the outskirts of the village center from Govt kb.3km currently we do not buy foreign private persons under Hungarian law in force, 'the more I can help you with something domestic private személy.Ha please alert.

Sincerely,
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Old Feb 14th 2014, 5:43 pm
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Default Re: How much land?

Originally Posted by kohoutek
I asked the estate agent the classification on the 4500mtr property and got this reply via email?

Thank you for your interest in the property you are interested in residential yard, but is located in the outskirts of the village center from Govt kb.3km currently we do not buy foreign private persons under Hungarian law in force, 'the more I can help you with something domestic private személy.Ha please alert.

Sincerely,
My self and others have given information and to the issue with Land in ClossedGarden . I must point out that if you wear able to go a head then rember some golden rules if able to obtain such property then there is no large profit in it, I now my place on sale at negitive return, yes I got it at a low price I inproved to make it possible to live there 12 months of the year I have all the comforts and views to kill some one for, but no one is buying property at present Time so good look in finding some wear digger
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Old Feb 14th 2014, 11:38 pm
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Default Re: How much land?

Originally Posted by kohoutek
I asked the estate agent the classification on the 4500mtr property and got this reply via email?

Thank you for your interest in the property you are interested in residential yard, but is located in the outskirts of the village center from Govt kb.3km currently we do not buy foreign private persons under Hungarian law in force, 'the more I can help you with something domestic private személy.Ha please alert.

Sincerely,
Reading through the Hunglish the agents are correct however when the new law comes into force EU citizens can buy land on the same terms as Hungarians so there is nothing to stop you looking at the property now and agreeing prices and getting a contract drawn up ect. ready for the 'off'. (In May??)

I agree with Digger's comments about buying for investment - difficult to do with rural properties, IMO better to buy to use and see any ROI as a bonus
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Old Feb 15th 2014, 1:36 am
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Default Re: How much land?

We have two clients currently in the position Peter mentions above. The title can be "open" for 6 months so contracts can be drawn up to complete in May.

Again I have to agree with both Digger and Peter in that these properties will not suddenly double in value overnight and are currently priced about right - just under the value of similar village properties. Unfortunately, many people seem to have been duped into believing they would see huge returns when the law come into force.
The appeal for me and the clients who are buying these types of properties is their location and views.
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Old Feb 15th 2014, 1:59 am
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Default Re: How much land?

The way to look at it as I do, it,s like having a Holiday Caravan on the coast it cost say 12k then you pay ground rent, but it as agrement for 10 years then they might give a price of 3k providing you replace it with a new unit add the yearly ground rent and utility bills so for 10 years depuration 9k this is similar hear you will gain zero profit in the property after modernization and inprovements and enjoy the low cost on ground rents and low utily bills and the good weather, so the bottom line you have a Place in the Sun but you have to be in good health to enjoy my health is going to bad and I must sell and will sell at loss on my investment digger
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Old Feb 15th 2014, 10:35 pm
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Default Re: How much land?

My place has 6,500 square metres but the house is in the centre of the village, even if the end of my land is on the edge of the village. I would agree with others, if you put money into an agricultural property you are unlikely to recoup your investment if you ever need to sell. Do the ragweed regulations apply to these properties or is that only within villages?
If you are seriously interested in a property and the agents are being obstructive, it should be possible to find out who is selling the place and approach them direct. You might even get it a bit cheaper that way.
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Old Feb 16th 2014, 4:09 am
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Default Re: How much land?

Ref. Ragweed I think the pulling is not implemented every wear I am in full combat all lone no direction from ruling from Polymaster to pull it out so I have to cover all plots witch are around me with no one using them digger
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